Nuveen LLC Buys Shares of 189,422 Cronos Group Inc. $CRON

Nuveen LLC bought a new stake in Cronos Group Inc. (NASDAQ:CRON) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 189,422 shares of the company’s stock, valued at approximately $341,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRON. Formidable Asset Management LLC grew its stake in shares of Cronos Group by 2.1% during the fourth quarter. Formidable Asset Management LLC now owns 278,398 shares of the company’s stock worth $562,000 after acquiring an additional 5,637 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Cronos Group by 140.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,726 shares of the company’s stock worth $28,000 after acquiring an additional 8,019 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Cronos Group by 53.7% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,800 shares of the company’s stock worth $86,000 after acquiring an additional 16,700 shares during the last quarter. Aigen Investment Management LP purchased a new stake in shares of Cronos Group during the first quarter worth about $35,000. Finally, Two Sigma Advisers LP grew its stake in shares of Cronos Group by 8.0% during the fourth quarter. Two Sigma Advisers LP now owns 275,357 shares of the company’s stock worth $556,000 after acquiring an additional 20,400 shares during the last quarter. Hedge funds and other institutional investors own 8.71% of the company’s stock.

Cronos Group Price Performance

Shares of NASDAQ CRON opened at $2.50 on Friday. The business’s 50 day moving average price is $2.25 and its 200 day moving average price is $2.02. The firm has a market cap of $957.60 million, a P/E ratio of 50.00 and a beta of 1.13. Cronos Group Inc. has a 52 week low of $1.60 and a 52 week high of $2.77.

Cronos Group (NASDAQ:CRON) last issued its earnings results on Thursday, August 7th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.08). The firm had revenue of $33.46 million during the quarter, compared to analysts’ expectations of $45.73 million. Cronos Group had a net margin of 14.19% and a negative return on equity of 3.78%. As a group, research analysts expect that Cronos Group Inc. will post -0.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Cronos Group from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th.

Cronos Group Profile

Cronos Group Inc operates as a cannabinoid company that engages in the cultivation, production and marketing of cannabis products in Canada, Israel, and Germany. It offers dried flower, pre-rolls, oils, vaporizers, edibles, and cannabis tinctures under the Spinach, Lord Jones, and PEACE NATURALS brands.